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12 Feb 2018, 23:26
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B
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Difficulty:
65%
(hard)
Question Stats:
61% (02:51) correct
39%
(03:09)
wrong
based on 106
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An apartment dweller pays $125 per quarter for theft insurance. The policy will cover the loss of cash and valuables during the course of a year in excess of $350 by reimbursing 75% of the value of the loss above $350. During the course of a certain year, the apartment dweller suffers the theft of $1250 in cash — but no other losses — by theft. What is the difference between the combined amount paid in theft insurance and unreimbursed losses for that year, and the amount that would have been lost if the apartment dweller had not had any insurance?
(A) $125
(B) $175
(C) $225
(D) $350
(E) $675
(A) $125
(B) $175
(C) $225
(D) $350
(E) $675
12 Feb 2018, 23:57
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Total amount paid for the insurance in that year = 125 * 4 = 500
Value of loss suffered = 1250
Amount reimbursed = (1250 - 350) * 0.75 = 675
Combined amount paid in theft insurance and unreimbursed losses for that year = 500 + (1250 - 675) = 1075
Difference = 1250 - 1075 = 175
Answer: B
Value of loss suffered = 1250
Amount reimbursed = (1250 - 350) * 0.75 = 675
Combined amount paid in theft insurance and unreimbursed losses for that year = 500 + (1250 - 675) = 1075
Difference = 1250 - 1075 = 175
Answer: B
13 Feb 2018, 00:22
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Answer is B
this is a bit complicated...
firstly,insurance is given only to loss of 350+
reimbursement(75%) is given only to the amount that exceeds 350
for example:
loss of value: 1250
reimbursement is given to the amount that exceeds 350 means
1350-350 = 900
reimbursement= 75% of 900= 675
non reimbursement amount = 350 + ( 900-675) === 575
combined amount of insurance paid+ non reimbursement amount= 125*4 ( quarters for a year) + 575
= 1075
if he didnt have any insurance, amount lost = 1250
their difference = 1250- 1075= 175
Answer B
this is a bit complicated...
firstly,insurance is given only to loss of 350+
reimbursement(75%) is given only to the amount that exceeds 350
for example:
loss of value: 1250
reimbursement is given to the amount that exceeds 350 means
1350-350 = 900
reimbursement= 75% of 900= 675
non reimbursement amount = 350 + ( 900-675) === 575
combined amount of insurance paid+ non reimbursement amount= 125*4 ( quarters for a year) + 575
= 1075
if he didnt have any insurance, amount lost = 1250
their difference = 1250- 1075= 175
Answer B
